Shire looking to sweeten Baxalta bid: media reports

15 September 2015

Ireland-headquartered Shire (LSE: SHP) may be looking to sweeten the offer for US biotechnology firm Baxalta (NYSE: BXLT), according to media reports.

Shares in Baxalta rose to close up 4.3% overnight on the New York Stock Exchange. Shire stock was down nearly a percent in morning trade on the London Stock Exchange.

Shire is reportedly considering options for improving its initial takeover bid for Baxalta, which did not include a cash component. The Dublin-based drugmaker reportedly may be looking at ways to return cash to Baxalta shareholders more quickly than in it initially proposed, which involved a share buyback programme following the takeover.

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